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Opportunity Discovery

How much value is there in being ahead of market trends?

Symptoms of Poor Opportunity Discovery

  1. Chasing quarterly numbers
  2. Expensive acquisitions
  3. Loss of market share to more agile competition
  4. High employee burnout and turnover

Ask Yourself

  1. Is your organization an early mover?
  2. Do competitors launch breakthrough products before you?
  3. Do you have a group responsible for Discovery with budget?
  4. Does the group have a proven process?

How We Help

WEX, a global commerce platform for fuel and fleet, employee benefits, and business payments, observed that younger customers of their Health Savings Account often dropped out of the program. They aimed to understand the needs of this segment and identify opportunities for increased retention and grow revenue.

We worked with WEX to understand the reasons for attrition and test potential solutions, along with a new marketing strategy. Through rapid experimentation and iteration, they were sble model the segment’s specific financial situation, addressing the root cause of attrition: their inability to determine personal benefits. This led to a 43% increase in plan continuation.

Market Validation

How much will deep market knowledge speed go-to-market?

Symptoms of poor Market Validation

  • Failed launches
  • “Zombie” products
  • Poor customer satisfaction
  • Disgruntled channel partners

Ask Yourself

  1. Have you experienced any failed products over the past several years?
  2. Is your current market analysis based on unproven assumptions?
  3. Would you invest in a company that claims to be the next unicorn but hasn’t engaged with the market?

How We Help

Thomson Reuters, a legal and compliance technology firm, sought to increase sales in one of their enterprise software products. What was the cause of their growth platueau? 

We worked with TR to gain deep customer understanding, providing an insights to why purchases and renewals were not made. One of many beliefs, was that if the team offered a no-cost trial period and improved the online shopping experience, prospects could experience the product’s value and more readily purchase.

After several iterations, customers did indeed purchase at higher rates. This evidence gave the team confidence to launch across all traffic with an anticipated early return of over $2 million.

MVP

What’s the revenue potential in products that nail customer needs?

Symptoms of a poor MVP

  • No product momentum
  • Failed ROI
  • Poor implementation rate
  • Sales team not on board

Ask Yourself

  1. Do you typically suffer a long delay in acquiring customers after product launch?
  2. Are you satisfied with the speed of your products’ time to market?
  3. Are you missing vital information to make funding decisions at development stage gates?

How We Help

Roche Diagnostics, a life sciences products provider, sought to dramatically reduce the normal development time for large-scale tech solutions. Having an established base of hospitals and diagnostic labs, they believed a cloud-based network solution would add substantial value to their customers.

Rather than spend time on lengthy product requirements gathering and waterfall-style development, Roche brought on MTN to organize a network of small, cross-functional teams to conduct customer interviews and run rapid experiments. With each round of testing, the teams were able to learn validate and invalidate core assumptions. They developed a detailed blueprint for their complex platform MVP, based on what would add near term value and lead to significant revenue growth. 

Product Market Fit

How much growth can be driven from a product-market fit process?

Symptoms of a poor Product-Market fit process

  • Finger-pointing between functions
  • Early sales that tail off
  • “Zombie” products that are both un-savable and un-killable
  • De-prioritization by key stakeholders

Ask Yourself

  1. After launch, do sales spike, but quickly tail-off?
  2. Is the end-to-end customer experience cohesive?
  3. Are teams collaborating across functions during the product lifecycle?

How We Help

American Family is a nationwide insurance company, which wanted to increase sales of farm insurance aimed at helping farmers protect their assets.

While previous attempts to incentivize sales agents didn’t significantly move the needle, we helped establish a team to better understand the underlying issues, using Lean Innovation practices. Through dozens of empathy interviews the team learned that farmers trusted their bankers and farm suppliers with financial advice, but not their brokers. The team also found that sales agents did not have the same level of knowledge and understanding about the farmers’ business and needs. 

In under 90 days, the team developed a new way to market and sell to farmers. They reduced the time to market by 75% and dramatically improved customer conversions. 

Operational Excellence

How much long-term value can be created from agile responses to market change?

Symptoms of an outdated Operational Excellence model

  • High key-employee turnover, low morale, and reorgs
  • Flat revenues
  • Poor stock performance or valuation-propping tactics
  • Efficiency without desired outcomes

Ask Yourself

  1. Is operational excellence primarily driven by cost optimization?
  2. Has increased operational efficiency led to lower customer satisfaction?
  3. Has financial efficiency helped you achieve growth goals?

How We Help

Equip large, successful businesses predominantly in execution mode to respond quickly to change.

We brought the lean innovation mindset into Gerber Technology, a digital products provider to the fashion and textiles manufacturing industries.

In late 2019, as the COVID-19 pandemic began to emerge, Gerber noticed noticed troublesome activity in Chinese textile factories. Before the end of March, 2020, Gerber had developed product add-ons and services to convert customers into personal protective equipment (PPE) producers. Their on-the-spot innovation saved the very existence of their clients while producing new revenue streams for themselves.